Torstar Corp. signs deal to sell printing plant in Vaughan, Ont., for $54.25M

Torstar Corp. signs deal to sell printing plant in Vaughan, Ont., for $54.25M | iNFOnews.ca
The Toronto Star's Vaughan Printing Plant is pictured on Friday, January 15, 2016. Torstar Corp. has signed a deal to sell the land and buildings that had housed its printing plant to an unidentified buyer for $54.25 million. THE CANADIAN PRESS/Chris Young

TORONTO – Torstar Corp. (TSX:TS.B) has signed a deal to sell the land and buildings that had housed its printing plant to an unidentified buyer for $54.25 million.

The newspaper publisher stopped the presses at the Vaughan, Ont., plant, north of Toronto, in July and shifted the work to Transcontinental (TSX:TCL.A) (TSX:TCL.B).

Torstar says the deal to sell the property is subject to customary closing conditions and adjustments and expects to close the agreement late in the third quarter or early in the fourth quarter.

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Torstar holds an investment in The Canadian Press as part of a joint agreement with a subsidiary of the Globe and Mail and the parent company of Montreal’s La Presse.

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